iGate Patni to hire about 5,000 in 2012

IT firm iGate-Patni plans to hire about 5,000 persons next year, as it consolidates its business post the acquisition of Indian firm Patni Computer, with most of them being freshers.

"We will be hiring 4,000-5,000 people next calendar year. . . .That will take our headcount over the 30,000-people mark," iGate chief executive officer Phaneesh Murthy said.

For the quarter ended September 30, 2011, iGate Patni had 26,216 employees compared to 26,395 people in the previous quarter.

Out of the 5,000 people that would be added, around 3,500 would be engineering graduates, while the remaining 1,500 would be science graduates. Some lateral hiring would also be done, iGate Patni HR Head Srinivas Kandula said.

Currently, iGate Patni has 50:50 fresher to experienced employee strength.

In January this year, US-based iGate, in a consortium with private equity firm Apax Partners, bought the entire 45.6 per cent stake of Patni brothers -- Narendra Patni, Ashok Patni and Gajendra Patni -- along with General Atlantic's 17.4 per cent for $921 million (Rs 4,188 crore).

Following the acquisition, iGate launched an open offer, which gave it a majority stake of about 83

per cent in Patni Computer Systems.

As with any acquisition, there were high attrition rates, which the company is working to control, Kandula said.

"The key phase of people integration will complete by December. Our focus this year has been on stability and consolidation and protection of our employees," Kandula said.

Attrition has come down dramatically to below 19 per cent and the target is to bring it down to around 16 per cent levels in the next two quarters, Murthy said.

On the steps being taken to bring down the attrition, Murthy said, "The company no longer has the 'for sale' sign.

"Also working on a differentiated business model combined with the innovative HR practices at iGate Patni have been reasons for the attrition to come down dramatically."